UCO Bank FD Interest Rates 2025

What is a UCO Bank Fixed Deposit?

UCO Bank Fixed Deposit is a financial instrument through which you can invest a certain sum of money for a predetermined period and earn guaranteed returns. The minimum deposit amount for UCO Bank FD is ₹1,000. UCO bank pays interest on different options, such as cumulative, monthly, or quarterly basis. Some of the most common FD products offered by UCO Bank include regular term deposits, UCO 444, UCO Green Deposit, Kuber Yojana, and monthly income schemes.

Key Benefits of UCO Bank Fixed Deposits

UCO Bank offers multiple FD schemes, each with its own features. Here are the common benefits across most fixed deposit options:

• Higher Interest for Senior Citizens: Senior citizens depositing with UCO Bank receive additional interest benefits,0.25% extra for tenures up to 1 year and 0.50% extra for tenures exceeding 1 year, across all eligible FD schemes.
• Premature Withdrawal Facility: UCO Bank permits early withdrawal of fixed deposits before the maturity date. However, a penalty is applicable as per the bank’s predefined rates policy.
• Loan Against FD: UCO Bank offers a loan or overdraft facility of up to 90% of the fixed deposit amount, allowing customers to meet emergency financial needs without breaking their FD. The bank will levy applicable interest or charges.
• Different FD Options: UCO Bank offers various types of fixed deposits, including UCO Tax Saver Deposit Scheme and the Flexible Fixed Deposit Scheme, each tailored to suit different financial objectives.
• Auto Sweep Facility: UCO Bank provides an auto sweep for select savings accounts. This feature helps you earn better interest on surplus funds while maintaining liquidity.
  • Minimum balance: ₹25,000 for Classic and Silver accounts; ₹50,000 for Gold and Platinum.
  • Sweep amount: ₹25,000 minimum, in multiples of ₹10,000.
  • FD tenure: Maximum of 180 days.

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UCO Bank FD Interest Rates 2025

Below is a table showing the applicable interest rates for different maturity periods and customer categories.

UCO Bank FD Rates on Domestic Term Deposits (Below ₹3 Crores)

UCO Green Deposits FD Interest Rates

How to Open a UCO Bank FD

You can open a UCO Bank FD through two convenient methods:

Online Method

For Existing Customers:

• Visit the UCO Bank Internet Banking portal or log in through the UCO mBanking Plus mobile app.
• Navigate to the Fixed Deposits or Term Deposits section.
• Click on ‘Open Fixed Deposit’ or ‘Create New FD’.
• Enter your deposit amount and choose the tenure (from 7 days up to 10 years).
• Fill in nominee details.
• Select the deposit type (reinvestment, monthly/quarterly payout, etc.).
• Confirm the details and submit.
• Your UCO Bank FD will be opened instantly and the receipt will be available for download.

For New Customers:

• Visit the official UCO Bank website and go to the Fixed Deposit section.
• Select the relevant FD scheme.
• Complete the digital KYC process via Aadhaar and PAN authentication.
• Fill out the online FD application with the amount, tenure, and nominee details.
• Transfer the deposit amount online to initiate the FD.
• You’ll receive confirmation and digital acknowledgement of your UCO Bank FD.

Offline Method

For Both New and Existing Customers:

• Visit your nearest UCO Bank branch.
• Request the Fixed Deposit Account Opening Form.
• New customers must provide KYC documents (Aadhaar, PAN, address proof, photo).
• Specify the deposit amount, preferred tenure, and interest payout frequency.
• Choose your desired FD scheme (regular, tax-saver, monthly income, etc.).
• Submit the form and deposit the amount via cash or account debit.
• Collect your FD certificate or receipt from the branch.

Documents Required for UCO Bank FD

If you’re a new customer, ensure you carry the following documents when opening a UCO Bank Fixed Deposit:

• Proof of Identity: Aadhaar Card, PAN Card, Passport, Voter ID, or Driving Licence
• Proof of Address: Utility Bill (not older than 3 months), Aadhaar, Passport, or Bank Statement
• Recent Photograph: Passport-size photo (required for offline applications)
• PAN Card: Mandatory for tax deduction and TDS calculation
• KYC Documents: e-KYC for online method, physical copies for offline method
• Account Details: UCO Bank savings or current account is required for interest/maturity payouts

Taxation on UCO Bank FD Interest

Interest earned on UCO Bank Fixed Deposits is taxable under the head "Income from Other Sources" as per your applicable the Income Tax Act. If the total interest earned in a financial year exceeds ₹50,000 for regular individuals or ₹1,00,000 for senior citizens, the bank deducts Tax Deducted at Source (TDS) at the rate of 10%. 

If PAN is not provided, TDS is deducted at a higher rate of 20%. To avoid TDS if your income is below the taxable limit, you can submit Form 15G or 15H. Additionally, UCO Bank’s Tax Saver Deposit Scheme offers tax deductions of up to ₹1.5 lakh under Section 80C of the Income Tax Act, making it a beneficial option for tax-saving investors.

Key Takeaways

UCO Bank Fixed Deposits offer returns across a variety of tenures, allowing individuals to choose investment durations that suit their financial plans. Features such as online and offline booking options, loan or overdraft facility against the deposit, nomination support, and additional interest for senior citizens add to the overall flexibility. Before investing, it's advisable to review and compare the best FD interest rates with those offered by other banks to make an informed decision.